HERBERT R. O'CONOR, GOVERNOR. 779

(e) No suspension, revocation, or surrender of any license
shall impair or affect the obligation of any instalment agree-
ment lawfully acquired or entered into by the licensee prior
thereto; but notwithstanding such suspension, revocation, or
surrender, the former licensee, in all acts and proceedings to
enforce the obligations of any such agreement, and in all deal-
ings with the parties thereto, shall continue to be subject to
the provisions of this sub-title, and the authority vested in the
Commissioner to make examinations and to conduct investi-
gations.

(f) The Commissioner shall establish rules as to the form
of hearings, findings, and orders which shall be reasonable and
in the public interest.

141. Court Review. Any person aggrieved by a refusal,
suspension or revocation of license by the Commissioner, may
appeal, within thirty (30) days after notice of such action, to
the Circuit Court for the county where the business was or
was to be carried on, or to any common law court in Baltimore
City. The case shall be tried de novo and the court may re-
verse, affirm or modify the order of the Commissioner. Such
appeal shall operate to suspend the order appealed from pend-
ing the hearing on the merits, until the Court orders otherwise.

The Commissioner or the person aggrieved may appeal
within thirty (30) days from the judgment of the court to the
Court of Appeals.

142. Renewals y Extensions and Refunds, (a) Any licensee
may renew or extend the time or times of payment of any
instalment sale agreement or any one or more of the instal-
ments thereof, or may refund to the buyer the amount of one
or more of the instalments previously paid to be subsequently
repaid by the buyer.

(b) Upon such renewal, extension or refund, the licensee
may make a total charge therefor not exceeding an amount
equivalent to a true rate of interest of fifteen percent (15%)
per annum on the respective descending balances of the "ex-
tended principal" from the date of such renewal, extension
or refund until the date fixed for final payment. The "extended
principal" shall not exceed the sum of (1) the unpaid por-
tion of the time balance under the instalment agreement, and
(2) any delinquency charges lawfully payable, and (3) any
amount of cash actually refunded to the buyer, (4) minus a
credit for prepayment computed as if the unpaid portion of
the time balance had been paid in full at the time of such
renewal, extension or refund.

(c) Every such renewal, extension or refund shall be evi-
denced by an instrument in writing signed by the parties or
by their respective representatives thereunto authorized, ex-